Activity of the video 1 Part 1 What isthe main idea of the video at the top?
The global exchange, free trade and protectionism.
What is the main point of each of these segments?
In the first segment the main idea is that international trade increase the economic of the nation and genera growth of the nation that trade. In the second segment the main idea is the increase in the value export of Taiwan, Uganda, Brazil, South Korea, etc. Finally in the second segment too talking about of the pattern of trade.
Part 2 Read the list of questions below and make notes while you listen to the audio. What figures (data, numbers) does the narrator give to show the increase in International trade during the 35 year period from 1970 to 2004?
The value world export of goods and services increase of 0.4 tn $ in 1970 to 10.8 tn $ for 2004.
What countries have gained economic growth through international trade?
China
What is the pattern of trade described by the narrator?
The international Trade performed between developed countries mainly.
What are the two types of approaches to trade named by the narrator?
High-tech goods and Basic staples/textiles.
What countries are given as examples of countries following this trade?
Taiwan, Uganda, Brazil, South Korea.
Global economics, global exchange 2: Video outline.
On section 1 (0:02 – 1:55)
Main idea:Reasons why specialization and trade are beneficial for a country
Key concepts:
Comparative advantage: Emphasizing differences in countries resources and productivity levels. Economy of scale is when production gets more efficient and lowest the cost per unit of output.
Example
Countries
Products
Reasons for specialization
Pakistan
Rice grow mangos
Warm weather
Sweden
Paper and steel
Cold weather, forests and iron
On section 2 (1:57 – 3:06)
Main idea: Comparative advantage based on countries having a lower opportunity cost. Key concepts:
Opportunity cost: Forgone opportunity to produce another good
An example of opportunity cost is what you would have done with the $10 spended on the cd, it could be have been invested in buying a shirt o going out for dinner. Complete the chart with the corresponding information.
Country
No. jeans produced
No. cars produced
Opportunity cost
America
10
20
a per of jeans is 2 cars
China
6
6
a per of jeans is one car
America has a comparative advantage in automobiles China has a comparative advantage in the production of jeans
On section 3 (3:08 – 4:49)
Main idea:In what consist Pattern of trade Key concepts:
Hechscher and Ohlin theory of what determines relative labour productivity
Major factors in labour productivity are:
1. Skills of the workers 2. The machinery the workers have to use 3. Organization of the firm
Activity of the video 1
Part 1
What is the main idea of the video at the top?
The global exchange, free trade and protectionism.
What is the main point of each of these segments?
In the first segment the main idea is that international trade increase the economic of the nation and genera growth of the nation that trade.
In the second segment the main idea is the increase in the value export of Taiwan, Uganda, Brazil, South Korea, etc. Finally in the second segment too talking about of the pattern of trade.
Part 2
Read the list of questions below and make notes while you listen to the audio.
What figures (data, numbers) does the narrator give to show the increase in International trade during the 35 year period from 1970 to 2004?
The value world export of goods and services increase of 0.4 tn $ in 1970 to 10.8 tn $ for 2004.
What countries have gained economic growth through international trade?
China
What is the pattern of trade described by the narrator?
The international Trade performed between developed countries mainly.
What are the two types of approaches to trade named by the narrator?
High-tech goods and Basic staples/textiles.
What countries are given as examples of countries following this trade?
Taiwan, Uganda, Brazil, South Korea.
Global economics, global exchange 2: Video outline.
On section 1 (0:02 – 1:55)
Main idea: Reasons why specialization and trade are beneficial for a country
Key concepts:
Comparative advantage: Emphasizing differences in countries resources and productivity levels.
Economy of scale is when production gets more efficient and lowest the cost per unit of output.
Example
iron
On section 2 (1:57 – 3:06)
Main idea: Comparative advantage based on countries having a lower opportunity cost.
Key concepts:
Opportunity cost: Forgone opportunity to produce another good
An example of opportunity cost is what you would have done with the $10 spended on the cd, it could be have been invested in buying a shirt o going out for dinner.
Complete the chart with the corresponding information.
10
a per of jeans is 2 cars
America has a comparative advantage in automobiles
China has a comparative advantage in the production of jeans
On section 3 (3:08 – 4:49)
Main idea: In what consist Pattern of trade
Key concepts:
Hechscher and Ohlin theory of what determines relative labour productivity
Major factors in labour productivity are:
1. Skills of the workers
2. The machinery the workers have to use
3. Organization of the firm
Example:
(Example)